Indian Benchmark Indices End Lower on September 18, Market to Remain Shut on September 19

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The Indian benchmark indices, the Sensex and Nifty, ended lower on September 18, 2023, in a volatile session. The Sensex fell 241.79 points or 0.36% to close at 67,596.84, while the Nifty ended at 20,133.30, down 59 points or 0.29%.

The market started the day gap-down on the back of weak global cues, and remained in negative terrain throughout the session. However, buying in auto, power, and PSU banks limited the losses.

The market will remain shut on September 19 on account of Ganesh Chaturthi.

Outlook for September 20

Analysts expect the market to remain volatile in the near term, ahead of the outcome of the US Federal Reserve (US Fed) meeting on September 20, 2023. The US Fed is widely expected to raise interest rates by 75 basis points in an effort to combat inflation.

The Nifty index has support at the 20,100 level and resistance at 20,200. A break on either side of this range is likely to lead to trending moves, with potential implications for market direction.

Investors are advised to be cautious and trade with a stop loss in place.


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